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HomeMy WebLinkAbout0021 ~a!_ --_----L'am''-' Leader's written sgreeraettt a applicable kw. Borrower shall pay the amount of an ~rtsuraaoe premiums is the meaner provided under paragraph 2 hereof: - Any amounts disbursed by bender pursuant to this paragraph 7, vrith interest thereat, span become sdditional indebtedness of Borrower secured by this Mortgage. Unless borrower aod'Lender agree to other terms of paymeot, such smounts shall be payable upon novice from Lender to Horrowct requestbtg payment thereof, and shall beu interest from the • date of disbursartatt. at the rate payable hom time to time on outstanding principal under the Note unless pajtneut d interest :t such rate-would be contrary to applicable law. in which event such amounts titan bear intertot at the highest rate permiaibk under applicable law. Nothing contained in this paragraph 7 Shan require Lender to incur soy ptpettse or tdot any action herettoder. los'ectiaw. Lender may make or cause to be made reasonable entrees upon and inspections of the Property. provided that Lender shan give Borrower ttdice prior to any such inspection specifying reasonable cause therefor related to ietadee"s interest in the Property. ~ , f. Certiest+aatiow. The proceeds of any award a claim for damagss, direct a eonsegateotial. in ooraeectioa-with ser oortdemnation or other taking of the Property, a part thereof, a for convayartoe in lieu of oonddnaatiart, sro hereby asdgrted - and shall be paid to Lender. _ -_in this esrent of a total mina Qf t1_te_P_topertY. tht: Pte- shall_be_ applied_to_ the sums sscured _by this Mortgage, with the excess. iE any, paid to Borraw~er. in the event of a partial taking of the Property. unless Borrower and I.attd~er otherwise agree in writing, there Shan be applied to the sums secured by this Mortgage such proportion of the p+ooeedt ss is egwl to that proportion which the amount of the sums secured by this Mortgage immediately prior to the da/a'of taking bean to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds raid to Batrmcer _ _ - - if-ths-gar©psrty-isabandoned-by-Sorower: or-+t: after-notice by-Lender-to-Boc:+ower-that- - - an award or s~ettk a claim for damages. Borrower fails to respond to Lender within 30 days after the date such ootioe it !nailed.' I.znder ~ h . authorinott to collect and apply the procceds, at Lender's option. either to r+eatoration ar repair o[ tits t!r~operty-or ro t_hesums secured by this MortgaEe. • Urtkss Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shill cot exlertd .':or postpone the due'date of the monthly installments referred to in parsgraphs 1 and 2 hereof or charsgs fire arrtouM o[ such ittstahments. t0..1aRr~swer'Not Relates. Extension of the time for paynxnt or mod'dkation of amortization of the sums secured -by Asia Mortgage granted by Lender to any successor in interest of Borrower span not operate to release. in goy manner. ~ '.She 1a'iaM'IiEy, of thti original Borrower and Borrower's stccessors in interest. Lender shan not be required to ootnmertoe prJoeed' t~{~~t such wocessor or refuse to extend time for payment or otherwise modify amortization of the sums sxured~l~lttr~'llortgage by reason of any demand made by the oritinal Borrower and Borrower's successors in interest. 11. 1lrorttearstx~e Isy I.ertier Nil s Waiver. Any forbearance by Lender in exercising any right or remedy lteraroder. or other~?ise afforded by applicable law. shall not be a waiver of M preclude the exercise of any such right or taaedr. The procurement of insurance or the payment of taxes or other liens or charges by Lender span not be a waiver of Lenda's right to accelerate the maturity of the indebtedness secured 6ry? this Mortgage. l=. Rewsis All remedies provided in this Mortgage are distinct and cumulative to arty other rtght or remedy under this Mortgage or afforded by law or equity. and may be exercised oorsatrretstly-iadepeodentlY or woeessn?ely 13. ~taceewrs anti Assigss > Joint asti Sereral i.isbit>; GltMtas. The eovenaab and agreetrtatts herein contained span bind. and the rights hereunder shall inuuB to. the.rapective successors and assigns of Larder easel Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shah be joiry and several. The captions' and headings of the paragraph-s of this Mortgage sre for eonvenienoe only and are not to 1fe used to interpret or deAne the provisions herax?f. 11. Noaet. Except for any notice rcgtrired under applicable law to be given in another manner. (a) any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by certiAed mail addressed to Borrower at the Property Address or at such other address ss Borrower may designate by notice to Lender as provided herein. and (b) any notice to Lender span he given by certified maij. return receipt requested. to Lender's address, stated bereirt or b such other address as Lender may designate by notice to Borrower as provided herein. Aoy ootioe provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated hereto. ~ 1S. Urtltort• Mertgage: Governing Lsr.: 3ever:+6iify. This form of mortgage combines uniform ooaratants for national ~ use and rton-uniform covenants wAh limited variations by jurisdiction to eoratitute s uniform security iratrurrtertC ooMaiatg . real property. The Mortgage shall be governed by the law of the juri>diction in which the Propaiy is located. Ia the event that any provision or clause of this IKortgage or the Note conflicts with applicable law. such conflict shah not afieet other provisions of this Mortgage or the Note which can be given effect without the oonAicting provision. and to this end the provisions of the Mortgage and the Note arc Declared to be severable. ii. 1err~swes's Copy. Borrower shall be furnished a confomted cop~• of the Note and of this Mortgage at the time of execution or after recordation hereof. 17..'lkaoder of ate Propestf: Aswrrtpiosa. if all or any part of the Property or an interest therein is sold or transferred by Borrottrcr without Lender's prior written consent. excluding (al the creation of a lien or encumbrance subordinate to this lfortgage. (b) the creation of a purchase money security interest for household sppliartces. (c) a transfer by devise, desoatt or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of thra:c yeah or less not containing an option to purchase. Lender may, at Lender s option. declare all the sums secured by this Mortgage to be immediately due and payable. Lender shall have waived inch option to accelerate if. pray to the sale or transfer, Lender and the pt.rson to whom the .Property is to be co1D or transferred reach agroentertt in writing that the credit of such person is satisfactory to Lender and that the intcnct payable on the sums sceured by this Mortgage shall be at such rate as Lender span request. if Lender has waived the option to accelerate provided in this paragraph 17. and if Borrower`s successor in interpt bss_executed a written assumption a~r_eo-mt:nt adapted in writing_by Lender. Lender Shan release Borrower from an obij~atioas under this Mortgage and the Nee. - - _ _ _ - . . _ if Leoder exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in aocordartax with paptsraplt 11 hereof. Stirclt aotioe shall provide a period of not less than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due. if Borrower fails to pay such sums prior to the expiration of such period. Lender may. without further notice or demand on Borrower. invoke any rentedies-permitted by paragraph lft hereof. Nat-Uxtroas[ t,.avetv~ttrs. $orrr_and_lender further cm?enam_and.agree as fonows: ifR Aeeelefatlsm Re¦teiia. E~teep/ as !r'arYei i• parapsPY 17 ttesael. restart lMrroreera ~rwelr et sq eoveotartt K sp~sestaeot et )tarrrrrer r tbit Msrftage, lseltaig the eovernsta N pay w1ttQ ailraa awy sartttt stewai fqr ffYit Martgsse. Iwoietr tritr M sce+eMratlasi sfnB t¦ai stoace N Sers+awer a protde+ f• paragrapr lI bawl spedty~ q) arc lea~efas (=1 are scaaat - rpied rtes eNe stash Meek a its. oat leas lrsw 3t isys frwt rite i/s arc stalia r tastiti N •asssiwer. fIy wNelt sods bsN!!r rtnsR k eMei' etas IMaI fhYrr! M sore strelt trreaelt a K belts! ate able staelisi r tre saetiee ~ lls.ll r aaderaaaw al t11e awr taetrtei lay Ale Mert;sige. las~eelatwe b 1~ M'KaaitaL alai sale at ttre lrWerty. Y1te oNia sW lttel<ter ttrtirrn llatnawar at qtc rtgltt a reitattah after rerslersae~ sot ate rlgltt N srert V ate faatNwrse tretaaig tfr >teo•eriMttee al s selects K soy atdtetr aldeiac or lsenow~er w seeEleraaata srd tataclowra. • tf?e rrreselt it seat awr~a/ at, err 1lslase ate stale apadisi its ate naaea.~Lewier a I.erttaers a1M~ ralr alaelara ail at the start see~rstl b flit Mar~tRa fta 4 Iwaaeifatahr dtte eras psyaMe wflhool fsartYer ietwattd rot/ wp' faeeelete tYt Mart;sae ip jptilelal N'seasiR. iwytder dress k attllati N eoBtN l• rod ! r este~sa of /oreclosatstr. loelnr>Vi. hot N/ ioiM/ ties, aeattoaYe atlwatey's felt. etas serfs at iltanot¦ttq eviiesics, aftttrsett arts Wle re+arU. - i!. lMtnwa't >trgM N Rlistftle. Ndwithstutding Lender's aooekration of the teens aetaued by thts Mortgage. Borrower shall have the right to have any proctedings beEatn by Lender to enforce this Mortgage discoutintttd u any time aoox 3~s PacE ~